For the longest time, there have been complaints that a small group of legacy miners were hoarding massive piles of bitcoin, and it would be better if the bitcoin wealth was not so concentrated.

Well, this weekend we have solved that problem.

Butterfly Labs new ASIC miners have pried approximately 50,000 Bitcoins from the hands of bitcoin's top miners. And now, we can use everyones help in returning these bitcoins to circulation and giving everyone, including new bitcoiners, the chance to own some.

We are listing these bitcoins for sale on a number of bitcoin exchanges, starting now, to give as many people as possible the opportunity to buy.

We have them on

Mt. GoxBitfloorCampXBitStamp

50,000 BTC are up for grabs (not all at once obviously).

If you are interested in a private deal to buy $10,000 or more, contact me directly.

So to put this in another way, equipment which will eventually deliver 10-20TH have been bought. This is more than the current total hash rate.My math: 50kBTC ~ $300k ~ 10 x 1TH rigs (no trade-in) or 20 x 1TH (all trade-ins).

For the longest time, there have been complaints that a small group of legacy miners were hoarding massive piles of bitcoin, and it would be better if the bitcoin wealth was not so concentrated.

Well, this weekend we have solved that problem.

Butterfly Labs new ASIC miners have pried approximately 50,000 Bitcoins from the hands of bitcoin's top miners. And now, we can use everyones help in returning these bitcoins to circulation and giving everyone, including new bitcoiners, the chance to own some.

We are listing these bitcoins for sale on a number of bitcoin exchanges, starting now, to give as many people as possible the opportunity to buy.

We have them on

Mt. GoxBitfloorCampXBitStamp

50,000 BTC are up for grabs (not all at once obviously).

If you are interested in a private deal to buy $10,000 or more, contact me directly.

As a payment processor I guessed you were supposed to immediately sell BTC that you receive on an exchange. Apparently you were hoarding as the price was supposed to go up and now you need to sell at 6.5$ but can't? Come on!

Announcing to deposit 50k BTC for a good reason at least tries to calm those that see a drop of confidence in a flooded market but I'm not sure the sharks will be happy to buy your coins at 6.5$

I love this, you can only buy miners with BTC and bankwire, so everyone gives Bitcoin away, BFL sells it all pushing down the price and forcing GPU miners out of the market, then 8 months later the difficulty increases exponentially as they "test" their ASIC on Inaba's pool, then they release it first to GigaVPS, who hypes up how "awesome" it is and single handedly mines a huge portion of the 3100btc/day till the next difficulty readjustment.

Then everyone after two weeks more who gets their devices finds their ROI is about 10 years. GG.